MIAMI - Safe & Green Holdings Corp. (NASDAQ: SGBX), a prominent modular construction company, has secured its largest single order to date, valued at approximately $11.3 million. The company's subsidiary, SG Echo, LLC, will supply over 150 modular units to an existing customer, with the project set to begin immediately and completion expected in the first half of 2024.
This substantial purchase order follows a recent additional order for 40 units from the same client, announced on October 30, 2023. The new contract is anticipated to occupy a significant portion of the company's production capacity at its two operational facilities.
Paul Galvin, Chairperson and CEO of Safe & Green Holdings, stated that this order is a testament to the company's capability to deliver high-quality, sustainable, and cost-efficient modular units swiftly. He also highlighted the contract's potential to provide attractive margins and underlined the company's commitment to meeting the ambitious completion timeline.
Chief Financial Officer Tricia Kaelin remarked on the positive financial outlook, noting that the revenue from this contract alone is expected to surpass the total revenue of the first half of 2023. The company anticipates that the increased production will lead to attractive margins and substantial cash flow.
David Cross, Vice President of Business Development, expressed confidence in the company's solid performance leading to repeat business and the potential for further expansion of client relationships.
Safe & Green Holdings specializes in the development, design, and fabrication of modular structures, offering safe and environmentally friendly solutions across various industries.
This news is based on a press release statement from Safe & Green Holdings Corp.
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